"The luxury housing market in New York City is experiencing a slight slowdown despite the summer season. The latest Olshan Luxury Market Report indicates a marginal increase in signed contracts compared to the previous week, with the most expensive contract being a condo at 825 Fifth Ave listed at $34.75 million."
"The market slowdown during summer is considered a seasonal trend, with luxury buyers often taking vacations during this period. While the market has seen a decrease in sales during this time, experts note that it can also present good buying opportunities with reduced competition and motivated sellers."
The luxury housing market in New York City is currently facing a slight slowdown, typical for the summer months as buyers go on vacations. Although there has been a small increase in signed contracts recently, the effects of the slowdown include decreased sales. The highest recorded luxury sale recently was a condo at 825 Fifth Ave for $34.75 million. This seasonal trend offers potential buyers greater opportunities due to less competition and sellers eager to negotiate.
Read at SFGATE
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